LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Results of the scrip distribution and the cash dividend alternative

Results of the scrip distribution and the cash dividend alternative
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/002733/06)
ISIN: ZAE000145892
Share Code: LHC
(“Life” or “the Company”)
RESULTS OF THE SCRIP DISTRIBUTION AND THE CASH DIVIDEND
ALTERNATIVE
Shareholders are referred to the Company’s unaudited financial
results for the six months ended 31 March 2018, published on
the Stock Exchange News Service (“SENS”) on 1 June 2018, in
which they were advised of the Company’s declaration of an
interim distribution of fully-paid Life ordinary shares of
R0.000001 each (“the Scrip Distribution”) to ordinary
shareholders (“Shareholders”) recorded in the register of the
Company at the close of business on the Record Date, being
Friday, 22 June 2018 (“the Record Date”).
Shareholders not electing to receive the Cash Dividend in
respect of all or part of their shareholding were entitled to
receive that number of Scrip Distribution Shares determined in
the ratio of 1.41843 Scrip Distribution Shares for every 100
ordinary shares held on the Record Date.
Where a Shareholder’s entitlement to Scrip Distribution
Shares, calculated in accordance with the above ratio, gave
rise to a fraction of a new ordinary share, such fraction of a
new ordinary share was rounded down to the nearest whole
number, resulting in allocations of whole ordinary shares and
a cash payment for the fraction. The applicable cash payment
was determined with reference to the VWAP of an ordinary Life
share traded on the JSE on Wednesday, 20 June 2018, (being the
day on which an ordinary Life share began trading ‘ex’ the
entitlement to receive the Scrip Distribution or the Cash
Dividend alternative), discounted by 10%. The applicable cash
payment was announced on SENS on Thursday, 21 June 2018.
In terms of the Scrip Distribution, 3 369 339 new ordinary
shares were issued today to Shareholders who did not elect to
receive the Cash Dividend in respect of all or part of their
shareholding, resulting in a capitalisation of the
distributable retained profits of the Company of R6 524 586
Shareholders recorded in the register of the Company at the
close of business on the Record Date holding 1 226 376 547
ordinary shares elected to receive the gross Cash Dividend of
38 cents per ordinary share, resulting in a total gross Cash
Dividend of R466 023 087.86, which was paid out of the
distributable retained profits of the Company.
Share certificates, where applicable, were dispatched to
certificated Shareholders at their own risk, and the Cash
Dividend payments were made/Central Securities Depository
Participant/broker accounts of dematerialised Shareholders
were credited, today.
Illovo
25 June 2018
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 25/06/2018 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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